Gulf Navigation Holding PJSC

The document is a notification regarding a scheduled board meeting of Gulf Navigation Holding PJSC. The meeting is set to take place on Wednesday, 14 May 2025, at 10:00 am. The agenda includes considering the approval of interim financial statements for the three-month period ending 31 March 2025, discussing the possibility of calling a general assembly meeting pending approval from the Securities and Commodities Authority, and proposing an amendment to the company's Articles of Association to increase foreign ownership percentage in the company's shares. Additionally, the meeting will address any other matters that may arise. The notification is signed by Nader Muqbel, the Investor Relations Director of Gulf Navigation Holding PJSC.

The document is a list of nominees for the Board of Directors of Gulf Navigation Holding PJSC, dated April 27, 2025. It includes two nominees: Mohammed Ali Mohammed Ahmed Althawadi and Ahmed Khalifa Saif Khalifa Alqubaisi, both of whom are non-executive and independent members. The information is provided by Nader Muqbel, the Director of Investor Relations at Gulf Navigation Holding PJSC.

Gulf Navigation Holding PJSC has announced the opening of the nomination period for its Board of Directors membership. The nomination period is from April 9 to April 18, 2025. Eligible individuals or shareholders can apply by submitting an application to the company's headquarters in Dubai, accompanied by a brief profile and the desired membership category (Executive, Non-Executive, or Independent Member). Two board members will be elected, and the process complies with relevant governance regulations. Applications must include specific documents as per regulatory requirements. After the nomination period, candidates cannot transfer their candidacy, and the list of nominees will be published on April 27, 2025, and submitted to the Securities and Commodities Authority and the Dubai Financial Market.

The text provides instructions for completing and submitting a proxy form to Abu Dhabi Commercial Bank. Shareholders of Gulf Navigation Holding Company are required to fill out the form, appoint a representative to vote on their behalf at the General Assembly meeting on April 30, 2025, and send the form along with supporting documents to the specified email address. The form includes spaces for the shareholder's information, the representative's details, and the contact information of the financial broker or entity that verified the proxy.

GULFNAV announced its financial results for 2024, reporting a net loss of AED 20 million due to strategic investments aimed at enhancing long-term operations. The company focused on fleet modernization, operational efficiency, and eco-friendly technologies to comply with maritime regulations and sustainability standards. Despite short-term financial challenges, GULFNAV expects a recovery in petrochemical shipping demand in 2025. It received shareholder approval to acquire Brooge Energy Limited's assets for AED 3.2 billion, which includes new shares, convertible bonds, and cash, pending further approvals. GULFNAV aims to strengthen its financial health, optimize costs, and expand through strategic partnerships.

The Board of Directors of Gulf Navigation Holding PJSC held a meeting on March 27, 2025, and made several resolutions. They approved the audited financial statements for the year ending December 31, 2024. They also agreed to call for the annual general assembly meeting on April 30, 2025, subject to the approval of the Securities and Commodities Authority. The agenda for this meeting was approved, also pending the same approval. Additionally, the board recommended to the general assembly that no dividends be distributed for the financial year ending December 31, 2024. Finally, they recommended amending Article 43 of the company's articles of association regarding the method of announcing the general assembly meeting to align with governance regulations.